Brokerages Expect Park Hotels & Resorts Inc (PK) to Post $0.68 Earnings Per Share

Brokerages predict that Park Hotels & Resorts Inc (NYSE:PK) will report earnings per share (EPS) of $0.68 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Park Hotels & Resorts’ earnings, with estimates ranging from $0.66 to $0.72. Park Hotels & Resorts reported earnings of $0.65 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, May 8th.

On average, analysts expect that Park Hotels & Resorts will report full year earnings of $3.01 per share for the current year, with EPS estimates ranging from $2.86 to $3.07. For the next year, analysts forecast that the firm will report earnings of $3.08 per share, with EPS estimates ranging from $2.99 to $3.20. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Park Hotels & Resorts.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, February 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.40). Park Hotels & Resorts had a return on equity of 8.29% and a net margin of 17.25%. The firm had revenue of $686.00 million during the quarter, compared to analysts’ expectations of $659.09 million. During the same period in the previous year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year.

PK has been the topic of a number of recent analyst reports. TheStreet raised shares of Park Hotels & Resorts from a “c” rating to a “b-” rating in a research note on Friday, February 22nd. Zacks Investment Research raised shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Wednesday, March 6th. Barclays reaffirmed a “buy” rating and issued a $35.00 target price on shares of Park Hotels & Resorts in a research note on Sunday, March 3rd. Deutsche Bank set a $34.00 target price on shares of Park Hotels & Resorts and gave the company a “hold” rating in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. set a $29.00 target price on shares of Park Hotels & Resorts and gave the company a “hold” rating in a research note on Thursday, February 28th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.00.

Shares of Park Hotels & Resorts stock traded up $0.08 on Thursday, reaching $31.10. The stock had a trading volume of 1,022,605 shares, compared to its average volume of 1,387,624. Park Hotels & Resorts has a 1 year low of $25.30 and a 1 year high of $34.27. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 2.11 and a beta of 1.28. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend was Thursday, March 28th. Park Hotels & Resorts’s payout ratio is currently 60.81%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Rehmann Capital Advisory Group grew its holdings in shares of Park Hotels & Resorts by 110.2% in the third quarter. Rehmann Capital Advisory Group now owns 807 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 423 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Park Hotels & Resorts by 1.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,509 shares of the financial services provider’s stock worth $1,416,000 after purchasing an additional 582 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Park Hotels & Resorts by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 88,060 shares of the financial services provider’s stock worth $2,735,000 after purchasing an additional 776 shares during the last quarter. Pekin Singer Strauss Asset Management IL grew its holdings in shares of Park Hotels & Resorts by 1.7% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 50,300 shares of the financial services provider’s stock worth $1,307,000 after purchasing an additional 850 shares during the last quarter. Finally, Robecosam AG grew its holdings in shares of Park Hotels & Resorts by 28.6% in the fourth quarter. Robecosam AG now owns 4,500 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 1,000 shares during the last quarter.

Park Hotels & Resorts Company Profile

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.

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Earnings History and Estimates for Park Hotels & Resorts (NYSE:PK)

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